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This explains why the government were perfectly happy to sign the EA - they must have known it was coming. Next step - the revised IPA.

For once Mir has got something right.

Q will be right the day we produce our first ore. Until that point, which is a long way away, everything remains in play.

I assume we'll be seeing a few updated broker's reports fairly soon.

TI, this news is transformational. Yes, we were teetering on the brink, but the package completely changes our position and no longer will we have to be constantly looking over our shoulder wondering when the next funding deal will be announced. The cash allows SC to deliver the final bricks in the wall as he positions us as a turnkey project.

We are a junior explorer sitting on something really rather special and, unlike virtually all similar companies, we now have cash.

Bozi, erm...how exactly do you imagine he persuaded two institutions to pony-up 750m?

Jack, I wasn't referring to the need to raise cash. I meant flogging the story to tempt people to buy shares in the market.

We've removed the financial instability, I wonder to what extent we've become much more investible in the eyes of institutional investors? Can we expect to see SC getting out there selling the story? The proposition is now far more attractive to those who can see the future for copper.

Bozi, so is your post, but as you say, time will tell.

Bozi, sorry, but I disagree again. I think there were/are plenty of interested buyers, but they were trying to screw us and Scott, quite rightly, told them that we're not interested at those levels. They were adopting a tactic of waiting to see if we failed (Remember the man from Glencore's quote). Well, we haven't failed, and those same buyers are going to have to re-think their strategy.

It's almost as if he knew what was coming and decided to beat a tactical retreat some weeks ago.

Bozi, this is being done incrementally, as has been demonstrated by everything he's done over the last year.

If you were a seriously interested buyer, what would you be thinking today?

Talatum, the answer is yes, but I'd imagine a jv between BHP and Newmont is more likely.

Magoo, quite right!

Bozi, I'm afraid I disagree entirely. SC has transformed our ability to achieve a great price for the asset and since he arrived he's achieved a great deal more than his predecessors. He's taken this from a dream to reality.

Macaumike, of course it is. We've proved our ability to fund the thing and in so doing have removed any doubts about viability. We are not there to be screwed. What SC has done is to take one massive step towards his goal of presenting a turnkey project to the potential buyers.

Ultimately, you need to ask yourself why a buyer wouldn't want to get their hands on this incredible asset? It may not happen immediately, but it is still on the cards.

Eloro, you really crack me up, but thank you.

1) Not necessarily. Scott has now placed us is a very strong negotiating position and has proved to the market that we are not distressed sellers. This is of huge significance.

2) Why worry about that now? We'll get the money of we ever reach the point of needing it. The two lenders aren't going to walk away at that stage.

3) No.

I'm convinced that if you won 100m on the Euro lottery you'd start worrying about how to spend it.

And a favourable change of control provision.

Well done Scott! This removes so much of the uncertainty which has surrounded this stock for years and is one in the eye for those who told us SC was sitting on his backside doing nothing all day long.

Absolutely fantastic news and more than makes up for last night's disappointment.

And we've managed to do a deal that's limited to our gold resources only. This is a masterstroke.

Seems my predicted 100m working capital facility was bang on the money.